Real World Problems
The Real World Problem
Noise pollution is a serious problem, as defined is unwanted or excessive sound that can have deterious effects on human health and environmental quality, whilst also disrupting the balance of life. The real world problem depicted in the image in particular from Noise pollution is aircraft noise, which is a result of air traffic, for the residents of suburbs neighboring airports it imposes a great cost. It can result in stress, damage to hearing, noise insulation, rise in blood pressure. In animals it can increase the risk of death as it can alter predator or prey detection and avoidance, it can interfere with reproduction and contribute to permanent hearing loss. The sound becomes unwanted when it interferes with normal activities, disrupts or diminishes ones quality of life (van Kamp et al. 2012).
But not only does it impose a problem on the residents it also imposes a problem on the residents it can create costs for the airlines, for example if there are noise limits and restrictions, it shortens the number of flights the airlines can perform meaning there is less revenue coming in to the airline, which can result in market failure.
Why this occurs
The problem for the residence occurs as a result of poor urban planning as side by side industrial residential buildings can result in the aforementioned noise pollution in the residential areas. But when activity in the market affects individuals other than the buyers and sellers of the good it is called a side affect or a spill over, which is a result of a negative externality, because it has resulted in an external cost to the residences
(Weinhold, D 2013)
For instance the residents may have to buy earplugs to drown out the sound of the aircrafts, which is an external cost for them, as they would not have had to buy these if the aircraft noise was not affecting their sleeping pattern. Markets allocate too many resources to a good whose production results in a negative
Noise pollution is a serious problem, as defined is unwanted or excessive sound that can have deterious effects on human health and environmental quality, whilst also disrupting the balance of life. The real world problem depicted in the image in particular from Noise pollution is aircraft noise, which is a result of air traffic, for the residents of suburbs neighboring airports it imposes a great cost. It can result in stress, damage to hearing, noise insulation, rise in blood pressure. In animals it can increase the risk of death as it can alter predator or prey detection and avoidance, it can interfere with reproduction and contribute to permanent hearing loss. The sound becomes unwanted when it interferes with normal activities, disrupts or diminishes ones quality of life (van Kamp et al. 2012).
But not only does it impose a problem on the residents it also imposes a problem on the residents it can create costs for the airlines, for example if there are noise limits and restrictions, it shortens the number of flights the airlines can perform meaning there is less revenue coming in to the airline, which can result in market failure.
Why this occurs
The problem for the residence occurs as a result of poor urban planning as side by side industrial residential buildings can result in the aforementioned noise pollution in the residential areas. But when activity in the market affects individuals other than the buyers and sellers of the good it is called a side affect or a spill over, which is a result of a negative externality, because it has resulted in an external cost to the residences
(Weinhold, D 2013)
For instance the residents may have to buy earplugs to drown out the sound of the aircrafts, which is an external cost for them, as they would not have had to buy these if the aircraft noise was not affecting their sleeping pattern. Markets allocate too many resources to a good whose production results in a negative